30 Juli 2015, EUR/USD
Daily chart: the price continues to steadily work out the descending structure. We have two scenarios: The first one (blue arrow) - a straight decline to 1.0808 zone, the second one (red arrow) implies a preliminary roll back up within a new swing and it will be tha part of decline under O&U pattern (area 1.1110). Both scenarios are equally probable, both keep the general direction to the south.
.png "Two scenarios")
Hourly chart: here is a good pinbar at the end of the downward swing. If it moves the euro up, then we'll have a swing around 1.1110 area, where we shall sell in the medium term to 1.0808.
.png "Two scenarios")
Scenarios: 1)Rising from the current levels towards 1.1110. 2) Break under 1.0941 and decline to 1.0808.
Trading solutions:
1) We shall buy from the market with Stop set at 1.0941 and TP set at 1.1110
2)We sell out of area 1.1110 to 1.0808.
3) Sale targeting breakthrough of the hour pin (1.0941) and 1.0810 point are also possible.
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